The 2.0 litre HDI diesel automatic sedan version of the Peugeot 407 drops $1000 to $40,990. The 2.0 litre HDi diesel ST model is down $1200 to $43,990, and the Touring wagon model starts at $46,990.

The price of the new Peugeot 4007 four-wheel-drive has been slashed by $1000, starting at $44,990 for the 2.2 litre HDi diesel manual ST and $53,190 for the HDi diesel seven-seat SV, paired with Peugeot's dual-clutch transmission.

The brand's light commercial vehicles benefit from price cuts, with the Partner van reduced by $600 to $22,390 and the Expert large van reduced by between $2,000 and $2,600 across the three model range, starting at $34,990.

“The 3008 will be here in the second quarter of 2010, though we can’t say specifically when. We’re hoping for earlier rather than later, of course,” Mr McCartney told TMR.

“The 3008 is an interesting car, size and style-wise. It’s a combination of compact SUV meets car, meets hatchback, and we’re looking at people who want a bit more car in their SUV or a bit more SUV in their car.

“People looking at hatchbacks but want something bigger, perhaps with a higher seating position and with more space than your usual hatchback. People that want more from a standard-sized car, without stretching to a full-size SUV.”